“Developers Unilaterally Tore Up the Agreement” Says Bitcoin Miner
As Segwit stalls while Bitcoin Unlimited sees increased adoption, it appears that the scalability debate may be returning once more with Gang Wu, HaoBTC’s CEO, a mining business that controls around 6.3% of bitcoin’s network, launching a scathing attack. According to a translation, he blames developers for tearing up the Hong Kong agreement to force segwit, he calls on miners to move to pools which “represent the long-term interest of bitcoin,” and even seemingly hoped for BTCC to be shut down by PBOC. Wu Wu said: Developers and miners reached a Hong Kong consensus which clearly stated....
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Well, Bitcoin tore through resistance easily this morning. Readers will remember that the weekly chart we looked at a couple days ago was sitting at the 2nd arc of the 2nd pair, and the end of the 1st square. As end-of-squares is often a time of reversals or accelerations, I was concerned a reversal might be lurking. But the arc was disposed of easily, indicating that the long term trend remains up until at least the next arc at $1000+. The daily chart was sitting just below 5th arc resistance yesterday. Price has penetrated through to the sunny side of the arc pair as of this writing, and....
Executives at Visa and MasterCard awoke yesterday morning to learn that Vladimir Putin's Russia had passed legislation requiring foreign credit card brands to post $3.8 billion in total security collateral, the equivalent of two days'-worth of transactions processed in the country. After Russia reunified with (or annexed, depending on your point of view) Crimea, Visa and MasterCard complied with stringent White House sanctions and blocked transaction activity at several Russian banks. Both financial companies rightly feared a backlash from their actions. Under the new law which goes into....
Luke-jr, developer of the Bitcoin Core client and Blockstream contractor, has recommended in a developers’ mailing list Bitcoin Improvement Proposal announcement an instant 70% reduction of bitcoin’s transaction capacity to 300kb, followed by a yearly increase of around 17%, reaching the current transaction capacity of 1MB in 2024. Thereafter, it is intended to continue increasing by 17%, reaching a maximum capacity of 31MB in around half a century. The proposal to reduce transaction capacity that Luke-jr says he can “immediately recommend… for adoption,” is made no more than two days....
Data shows the growth in the Bitcoin miner revenues has slowed down during the past week as the price of the crypto has been moving sideways. Bitcoin Miner Revenues Rose During The Last Seven Days, But By Only 1.6% As per the latest weekly report from Arcane Research, the BTC miner revenues have now stagnated […]
Data shows Bitcoin miner revenues have been coming under stress recently as they are now making 61% less than the average during the last year. Bitcoin Miner Revenues Come Under Pressure As Puell Multiple Sharply Drops As per the latest weekly report from Glassnode, the miner income contraction right now is greater than during the […]